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Petrofac wins $700 million UAE contract

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(Alliance News) – The following stocks were the top risers and losers among small-cap stocks in London’s main market on Friday.

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Small Cap Stocks – Winners

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Petrofac Ltd rose 8.1 percent to 79.5 pence, with a 12-month range of 45.38 pence to 127.6 pence. The energy infrastructure company won contracts worth about $700 million. ADNOC Gas Processing Company, a subsidiary of ADNOC, has chosen to design, procure and build a new gas processing plant at ADNOC’s Hab Hill complex, west of Abu Dhabi. The new plant will include three natural gas compressor trains and support a significant increase in Mount Hab’s natural gas production.

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Pod Point Group Holdings PLC rose 3.7 percent to 69.99p, a 12-month change of 46p to 159.8p. The electric vehicle charging infrastructure provider has signed a partnership agreement with UK Electricity Networks. Flexibility services will be provided by adjusting EV charging schedules to help match renewable energy generation. With user permission, Pod Point will schedule electric vehicle charging away from peak hours, which will help balance the grid, Pod Point said.

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Small Caps – Losers

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Oxford BioMedica PLC, down 2.1% to 411p, with a 12-month range of 276.62p-575p. Investment bank Numis restarts coverage of gene and cell therapy group with ‘reduction’.

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By Elizabeth Winter, Senior Market Reporter, Alliance News

Comments and questions please send to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. all rights reserved.

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